PEET LIMITED — Capital/Financing Update 2009

Mar 26, 2009

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Peet Limited (Peet)

ABN

56 008 665 834

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1+Class of +securities issued or to beissued	Fully paid ordinary shares
2Number of +securities issued or tobe issued (if known) or maximumnumber which may be issued	Up to approximately 74,079,484 fully paidordinary shares in Peet (Shares) pursuant tothe Entitlement Offer.
	The exact breakdown of fully paid ordinaryshares to be issued under the Entitlement Offerunder the:-Institutional Entitlement Offer; and-Retail Entitlement Offer,is still to be finalised and is subject to thereconciliation of shareholder entitlements.Please note that an updated Appendix 3B willbe lodged on 7 May 2009 relating to theallotment of Shares under the Retail Entitlement

• See chapter 19 for defined terms.

3	Principal terms of the +securities(eg, if options, exercise price andexpirydate;ifpartlypaid+securities, the amount outstandingandduedatesforpayment;if+convertiblesecurities,theconversionpriceanddatesforconversion)	Fully paid ordinary shares
4	Do the +securities rank equally in allrespects from the date of allotmentwith an existing +class of quoted+securities?	Yes. They will be issued after the Record Date forthe interim dividend for FY2009 so will not participatein that dividend.
	If the additional securities do notrank equally, please state:•the date from which they do•theextenttowhichtheyparticipate for the next dividend,(inthecaseofatrust,distribution) or interest payment•the extent to which they do notrankequally,otherthaninrelation to the next dividend,distribution or interest payment
5	Issue price or consideration	$1.10 per Share.
6	Purpose of the issue(If issued as consideration for theacquisition of assets, clearly identifythose assets)	The net proceeds of the Entitlement Offer will beused to reduce net debt and, in conjunction withother capital management initiatives, allow Peet toparticipate in any attractive market opportunities thatmay materialise over the medium term.
7	Dates of entering +securities intouncertificated holdings or despatchof certificates	15 April 2009 under the Institutional Entitlement Offerand 8 May 2009 under the Retail Entitlement Offer.
8	Number and +class of all +securitiesquotedonASX(includingthesecurities in clause 2 if applicable)	NumberAfter the EntitlementOffer there will be up toapproximately296,317,938 fully paidordinary shares on issue(based on the number offully paid ordinary shareson issue at the date ofthis Appendix 3B and themaximum number of fullypaid ordinary shares tobe issued under theEntitlement Offer, subjectto the effects ofrounding).	+ClassFully paid ordinaryshares

		Number	+Class
9	Number and +class of all +securities	5,834,000	Options
	not quoted on ASX (including thesecurities in clause 2 if applicable)	265,000	Performance Rights
10	Dividend policy (in the case of a	Same as for existing fully paid ordinary shares.
	trust, distribution policy) on theHowever, the fully paid ordinary shares to be
	increased capital (interests)	issued under the Entitlement Offer will notparticipate in the interim dividend to be paid in
		April 2009.

Part 2 - Bonus issue or pro rata issue

11	Issecurityholderapprovalrequired?	No
12	Is the issue renounceable or nonrenounceable?	Non-renounceable
13	Ratio in which the +securities willbe offered	1 fully paid ordinary share for every 3 fully paidordinary shares held as at the Record Date.i.e. 1 for 3.
14	+Class of +securities to which theoffer relates	Fully paid ordinary shares.
15	+Recorddatetodetermineentitlements	7.00 pm (AEDT) on 1 April 2009
16	Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?	No
17	Policy for deciding entitlements inrelation to fractions	Where fractions arise in the calculation ofshareholders'entitlementsundertheEntitlement Offer they will be rounded up to thenext whole number of new shares.
18	Names of countries in which theentity has +security holders whowillnotbesentnewissuedocuments	AllcountriesexceptAustraliaandNewZealand.
	Note: Security holders must be told how theirentitlements are to be dealt with.
	Cross reference: rule 7.7.

+ See chapter 19 for defined terms.

19
	Closingdateforreceiptofacceptances or renunciations	Institutional Entitlement Offer – 2.00pm(AEDT) on 27 March 2009 (Australia and Asia)
		Retail Entitlement Offer - 5.00pm (AWST) on30 April 2009.
20	Names of any underwriters	UBS AG, Australia Branch
21	Amount of any underwriting fee orcommission	Up to approximately $2.4 million
22	Names of any brokers to the issue	N/A
23	Fee or commission payable to thebroker to the issue	N/A
24	Amountofanyhandlingfeepayabletobrokerswholodgeacceptances or renunciations onbehalf of +security holders	N/A
25	Iftheissueiscontingenton+security holders' approval, the dateof the meeting	N/A
26	Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled	No prospectus is being produced. The RetailEntitlement Offer documents will be sent toEligible Retail Shareholders on or before 6April 2009.
27	If the entity has issued options, and	N/A
	the terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders
28	Date rights trading will begin (ifapplicable)	N/A
29	Date rights trading will end (if	N/A
	applicable)
30	How do +security holders sell theirentitlementsinfullthroughabroker?	N/A
31	How do +security holders sell partoftheirentitlementsthroughabroker and accept for the balance?	N/A
32	How do +security holders dispose	N/A

33 +Despatch date Refer to Item 7 of this Appendix 3B

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• (a) Securities described in Part 1
• (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

	additional +securities, and the number and percentage of additional +securities held bythose holders
36	If the +securities are +equity securities, a distribution schedule of the additional+securities setting out the number of holders in the categories1 - 1,0001,001 - 5,0005,001 - 10,00010,001 - 100,000100,001 and over
37	A copy of any trust deed for the additional +securities

35 If the +securities are +equity securities, the names of the 20 largest holders of the

• See chapter 19 for defined terms.

Entities that have ticked box 34(b)

• 38 Number of securities for which +quotation is sought
• 39 Class of +securities for which quotation is sought
• 40 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

	Number	+Class
Number and +class of all +securities42quotedonASX(includingthesecurities in clause 38)

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
• 2 We warrant the following to ASX.
  • The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
  • There is no reason why those +securities should not be granted +quotation.
  • An offer of the + securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

== == == == ==

Sign here: ............................................................ Date: 27 March 2009

Print name: Domenico Scafetta

(Company secretary)

+ See chapter 19 for defined terms.